China's youth seek stability over entrepreneurship as economy lags
'Freelancer' was the most favoured career for those born between 1995 and 2009, according to a report released on July 25 by Forvis Mazars, an international provider of advisory and consulting services.
Based on the preferences of 4,171 respondents, the study presents a new portrait of the values, lifestyles, and careers sought after by 260 million young Chinese. In a ranking of their 'ideal career,' 49 per cent of respondents included 'freelancer'.
'Public sector employee' was the second most common result with 47 per cent, followed by 'technical professional' with 39 per cent, 'corporate employee' with 34 per cent and 'entrepreneur' with 31 per cent.
A relatively low position for entrepreneurship indicates its waning appeal among young Chinese, with some saying a laggard economy has
diminished the allure of starting a business.
'The economy was poor during the Covid-19 pandemic, and it's even worse now,' said 23-year-old Crystal Pang, a recent graduate with an education degree currently job-hunting in Shenzhen.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
22 minutes ago
- South China Morning Post
Bridgewater dumps all China stocks as hedge fund retreats from market
The world's largest hedge fund, Bridgewater Associates , sold all of its holdings in US-listed Chinese companies in the second quarter, marking a decisive retreat from the market as geopolitical tensions and shifting investor sentiment clouded the outlook for the world's second-largest economy. The fund exited positions in 16 Chinese stocks, which were worth US$1.41 billion in total, according to its 13F filing with the US Securities and Exchange Commission on Wednesday. This included e-commerce giants Alibaba Group Holding, and PDD Holdings, search-engine operator Baidu, electric-vehicle maker Nio, travel services provider Group and restaurant chain Yum China. Alibaba owns the South China Morning Post. The sell-off also included TAL Education Group, H World Group, KE Holdings and Autohome, wiping out Bridgewater's direct exposure to US-traded Chinese equities for the first time in years. The exit came after Bridgewater made headlines in recent quarters by slashing its exposure to US equities and piling into Chinese names. The firm had sharply increased its bet on e-commerce leader Alibaba in the first quarter – boosting its stake by more than 3,360 per cent to US$748.4 million from US$21.6 million at the end of 2024. The reversal coincided with growing market volatility and signs of investor caution. In the second quarter, renewed tariff shocks between the US and China triggered sharp corrections in both markets. Founded by veteran investor Ray Dalio, who has long described China as a strategic part of a diversified global portfolio, Bridgewater appears to have reassessed its exposure amid the global trade tensions.
South China Morning Post
22 minutes ago
- South China Morning Post
China's stock market bull run is translating into a rout for bonds and ultra-long debt
A sell-off in China's bond market is accelerating, sending futures on ultra-long debt to a four-month low as a bull run in local stocks builds momentum. Futures on 30-year sovereign notes fell as much as 0.7 per cent on Thursday, extending this week's drop to 1.5 per cent at the low as a gauge of onshore equities reached its highest point since October. The moves are less dramatic in the cash bond market, with yields on the same maturity government paper up one basis point. The world's second-largest bond market has come under increased pressure in the past month, thanks to easing US-China trade tensions and optimism that efforts to curb overcapacity and excessive price wars will pull the economy out of deflation. Dwindling expectations for further monetary easing in the short term, as well as the imposition of a tax on certain bond investments, have also soured investor sentiment. Weighing on bonds is 'asset allocation rotation as equities have fared well lately and there may be a gradual recovery of some investor risk appetite,' said Lynn Song, Greater China chief economist at ING Bank. 'To support the bond market, we would need to see measures such as cuts to the benchmark rate.' While the traditional see-saw effect between stocks and bonds appears to be the driving force behind investors' decisions at the moment, how far the debt market sell-off can go may ultimately hinge on China's growth momentum. Official data released Wednesday showed a key measure of lending at Chinese banks contracted for the first time in two decades in July, with broad credit growth also slowing.
South China Morning Post
an hour ago
- South China Morning Post
Why debt-shy Chinese consumers may snub loan subsidy scheme
As China rolls out subsidies for personal consumer loans, covering part of the interest costs, Beijing's latest effort to spur spending is likely to be tested by a deeply ingrained public attitude: saving. For many Chinese households, including Mary Lin, a 54-year-old primary school teacher, borrowing to spend remains unimaginable. 'Except for a mortgage, I've never taken out a bank loan in my life,' she said. 'Taking out a bank loan to spend isn't popular for people of our generation, unless it's for something like buying a home.' Even for younger people like 25-year-old Sally Wan, debt-fuelled spending remains unattractive – even if she does not rule it out entirely.
